14 days ago
Noble Group's lenders in talks on $2 bln credit line- FT
Noble Group's main banks are in talks to decide whether to give the commodity trader an extension on its credit line or force it into a restructuring or liquidation, the Financial Times newspaper said on Tuesday. Banks including HSBC, Societe Generale, ABN Amro, Citigroup and ING have appointed legal advisers to consider the case for extending the $2 billion line of credit so the company can continue searching for an investor to recapitalise the business, the FT said. Banks have hired consultants Alvarez & Marsal, who are assessing the collateral pledged by Noble against the credit line, the FT said, citing sources with knowledge of the discussions.